Japan's capital expenditure boom is shifting to the services sector, stirring fears that self-checkout systems and software will take the human touch out of omotenashi, the country's vaunted commitment to hospitality.
Is it really possible for hotel companies to retain creativity or innovation the bigger they get?
Al Hokair Group, one of Saudi Arabia's most respected brands within the hospitality industry sector, aims to further expand in 2019 to address the growing demand in the country. With several new themeparks and other entertainment destinations and the growing religious tourism market sector, the company plans to fast track its plans. The Group currently works with several international Hotel chains that include Hilton, Holiday Inn, Radisson, Inter Continental Hotels Group, Accor International Hotels, Carlson Rezidor Hotel Group and Marriott Hotels Group among several others.Saudi Arabia is currently in the midst of expanding its leisure tourism sector and expects 30 million visitors annually by 2030.
Billionaire William Heinecke is on the lookout for further takeovers after more than tripling the number of hotels his Minor International Pcl controls through the acquisition of Spain's NH Hotel Group.
Blackstone's checking out of Hilton and into LaSalle.
rance’s Accor SA has bid A$1.18 billion ($920 million) for Mantra Group Ltd - a deal that would combine the two biggest hotel owners in Australia and seek to capitalize on surging tourism in the country.
Accor, already the biggest hotelier in Australia, offered A$3.96 a share, or a 23 percent premium to Mantra’s closing price on Friday. The total offer is worth A$4.02 per share if a six-cent final dividend paid in 2017 is included, Mantra said in a statement.
HOME Weekly Travel News CHINESE TOURISTS EXPECTED TO HELP EU ECONOMY CHINESE TOURISTS EXPECTED TO HELP EU ECONOMY Cecilia Garland - Oct 2, 2017 0 Asia & Pacific - China - Travel & Tourism Industry News Tourism statistic, travel statistic news CHINESE TOURISTS EXPECTED TO HELP EU ECONOMY Europe as a continent relies greatly on tourism. It is estimated that 10 percent of the economy of the EU accounts to this industry. EU leaders are now looking to improve the situation by bringing in more Chinese tourists to the continent. According to the President of the European Parliament, Antonio Tajani, the Asian market is set to be the driving force of European tourism in the coming years. The Italian politician also stated that tourism outflow and inflow will increase to 700 million by the year 2020. This would be a big increase, considering the fact that last year the figures reached 500 million.
Quebec has announced a 70-million-dollar tourism investment to be used over a three year period in order to “diversify, enrich, and develop” Quebec tourism offer. This news pleased especially the owners of ski resorts in Quebec. For most of them, the modernization of facilities and equipment is at the top of their priority list.
The money will be invested in the form of subsidies, “to support and help to materialize Quebec tourism projects, for a total of 300 million dollars”, Julie Boutlet, the Minister responsible for the project indicated, during a press conference.
What changes has the VAT undergone in the hotel industry? With business results increasingly divergent from one country to the next in Europe and "Brexit" perhaps a harbinger to any hiding of European goals for fiscal convergence, it's time to review a decade of changes for the VAT applicable to the hotel industry.
Tom Corcoran, Chairman of the Board of FelCor Lodging Trust, speaks with David Sudeck, senior member of JMBM’s Global Hospitality Group® at JMBM’s 2016 Meet the Money® – the national hotel finance and investment conference. They discuss “rational debt,” redevelopment opportunities, and the evolution of FelCor.
There's a dark side to cheaper flights and road trips, if you're hoping for a bargain summer vacation. Your hotel bill may more than offset the savings. AAA expects more than 38 million Americans will travel over Memorial Day weekend, a figure it says is the second- highest volume on record and the most since 2005. It's no wonder: Lower oil prices have created some bright spots for summer travelers. Airfare is down 12 percent year over year, according to a recent report from Hopper.com, with summer fares expected to be the lowest in seven years. Gas prices — currently at $2.28 a gallon, per AAA — could be at an 11- year low for drivers over Memorial Day weekend.
It is no surprise to anyone that certain industries are more of a target for cyber criminals than others, although today all businesses are a likely on the radar. One high-value target is the hospitality industry. According to Verizon’s 2015 Data Breach Investigation Report, the data-rich hospitality industry continues to struggle in this area, with accommodations ranking as the industry with the highest reports of incidents as well as data losses. White Lodging, whose portfolio contains 169 properties, was the victim of data breaches twice within a year. Restaurant owner P.F. Chang’s suffered a high profile breach as did Starwood Hotels & Resorts.
Hoteliers during the first two days of the Hunter Hotel Investment Conference discussed the impact of slowing transactions, changing expectations for pricing and the future of debt refinancing. The pricing and pace of transactions were top of mind at the recent 28th annual Hunter Hotel Investment Conference. Speakers on the “State of the industry” and “Presidents” panels discussed how hoteliers should cope with low transaction volumes, debt refinancing and deciding whether to buy or sell.
Both 1996 and 2015 were times of high occupancy levels in the U.S. hotel industry, yet average rates grew faster in 1996. It begs the question: At record occupancy levels, what should average rate growth be? The U.S. hotel industry hit the elusive 65% occupancy mark in April 2015, and the closest it had ever come before was back in the expansion period of the mid-1990s.
Kudos to Hilton Worldwide for their recent experiment with guest cancellation fees, which according to CEO Chris Nassetta their customers “unsurprisingly hated.” Although Hilton has not yet decided whether or not they will implement a strict cancelation policy, the company will likely roll out a two tiered system that charges more for the option to cancel a reservation after booking.
During a recent presentation, I was asked what I thought was the biggest difference in running a hotel versus a resort. As I answered, I realized that when I entered the hospitality business I was not aware of the complexity of the resort side of the business. Resorts can be in urban areas such as Miami or Scottsdale but many, such as our resorts, are located in more remote locations without the infrastructure of a city or town. Running resorts can be tougher as the manager has to wear many hats and has multiple revenue departments. Below are my top 10 differences between operating a resort property:
At a conference that focuses on Main Street instead of Wall Street, the general vibe during Day One was that there’s no need to panic over what appears to be a correction in the cycle. The mood during Day One of the 28th annual Hunter Hotel Investment Conference was optimistic, as both the general session panel speakers and economist Anika Khan, director and senior economist for Wells Fargo Securities, said 2016 will not be a year of recession for the hotel industry.
Hoteliers are approaching the busy season filled with weddings and other events that bring in contractors. Make sure your contracts are up to date given the latest joint-employer regulations. Springtime is approaching, and in the hospitality industry that means spring break and wedding season.
Hoteliers at the 19th International Hotel Investment Forum remain optimistic about Europe, although the prevalence of cyber crime, the whims of politicians and the continued onslaught from technology intermediaries remain concerns. The hot topics during the first day of the 19th International Hotel Investment Forum included Chinese industrial instability, political elections and referendums in the U.S. and the U.K., and the likelihood of more mergers and acquisitions activity on the industry’s horizon.
The price of oil and resulting gasoline prices have been on an up-and-down ride in the past year. Unfortunately, neither the up cycle nor the down cycle seem to be good for hotel owners and operators. There might not be any more volatile economic indicator in the United States than the price of gasoline at the pump. And, by extension, that measure historically has had a significant impact on the health of the hotel industry.